The graph demonstrates that the household savings ratio (the % of income Australians choose to save) from Sept 2011 increased by 13.2% to June 2020 during the peak of the COVID -19 pandemic in Australia. Why would Australian's have looked to save more of their income during this time?(1 Point)Property values grew and so Australians 'wealth' grewBanks were offering higher interest rates for savings accountsCitizens were concerned about the economic stability of AustraliaThe Australian Dollar increased in value against the US dollar

Examine the role of savings in Australia’s balance of payments problems

The Australian economy is experiencing a severe slowdown, with GDP growth nearly stalling at 0.1% in the first quarter of 2024. This minimal growth is reflected in a 1.1% annual growth rate, the weakest outside of the COVID-19 pandemic since the early 1990s recession. GDP per capita, a critical measure of living standards, fell by 0.4% in the quarter, marking the fifth consecutive quarter of negative growth per capita. This economic stagnation is coupled with increasing inflation, high interest rates, and a significant tax burden on households.

A rise in the value of the Australian dollar against the US dollar tends to:

'Economic growth is expected to moderate in 2023–24 as inflationary pressures and higher interest rates weigh on household consumption.'   Define and provide a brief explanation, of how each of the following could have contributed(other things being equal) to the subsequent confirmed slowdown in Australia’s real GDP growth of 0.2 per cent in the December 2023 quarter and the subsequent  negative  per capita real GDP.To answer each part of the question, refer to the aggregate demand/aggregate supply framework , without the need to draw the model. a. A decrease in fixed investment spending in infrastructure  constructionb. An increase in general labour productivity    c. A sudden decrease in crude oil prices

lmost three-quarters of young Australians believe they will never be able to buy a home, as confidence in the housing market has flatlined over the past year despite house prices falling over the same period.An exclusive survey shows that a growing majority of people believe that the Australian dream is unreachable for the young and that state and federal governments need to launch radical interventions in the housing market to make home ownership affordable again.More Australians believe they have been priced out of ever owning a home.CREDIT:FAIRFAX MEDIAThe findings will heighten debate about how to solve the housing affordability crisis after Australians were hit by the largest fall in real wages on record this month and interest rates soared to a 10-year high.The new survey, conducted by Resolve Strategic for this masthead, shows 63 per cent of Australians now believe that the young will never be able to buy a home, compared to 57 per cent a year ago.The results are more stark when young people answer for themselves, with 72 per cent of respondents between the ages of 18 and 34 saying they will never be able to buy a house.This is despite prices for dwellings falling by 12.1 per cent in Sydney and 8.1 per cent in Melbourne last year, according to data firm CoreLogic.Grattan Institute economic program policy director Brendan Coates said most people were less confident about purchasing their first home because their capacity to borrow money had fallen by more than the decline in house prices.He said this was caused by the rise in the cash rate along with the government-regulated “serviceability buffer”. Banks have to assess people’s borrowing capacity at 3 per cent higher than the current borrowing rate.